Allspring Global Investments Holdings LLC Sells 244,148 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Allspring Global Investments Holdings LLC lessened its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 58.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,184 shares of the biopharmaceutical company’s stock after selling 244,148 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of Catalyst Pharmaceuticals worth $4,143,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new position in shares of Catalyst Pharmaceuticals in the 4th quarter valued at about $37,494,000. Bank of America Corp DE grew its holdings in shares of Catalyst Pharmaceuticals by 139.5% in the 4th quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock valued at $32,741,000 after acquiring an additional 913,843 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Catalyst Pharmaceuticals by 131.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock valued at $14,570,000 after acquiring an additional 396,506 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Catalyst Pharmaceuticals by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock valued at $175,957,000 after acquiring an additional 390,116 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Catalyst Pharmaceuticals in the 4th quarter valued at about $6,887,000. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $21.64 on Monday. The company has a fifty day moving average of $23.73 and a 200-day moving average of $22.91. The company has a market capitalization of $2.64 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. Catalyst Pharmaceuticals, Inc. has a 52-week low of $15.19 and a 52-week high of $26.58.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Thursday, June 5th. Six analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Catalyst Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $32.83.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Preethi Sundaram sold 1,600 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total value of $42,272.00. Following the sale, the insider owned 41,081 shares in the company, valued at $1,085,360.02. This represents a 3.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Ingenito sold 44,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $23.63, for a total transaction of $1,039,720.00. Following the completion of the sale, the insider owned 68,873 shares in the company, valued at $1,627,468.99. This represents a 38.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 247,924 shares of company stock worth $5,879,369. 10.40% of the stock is currently owned by insiders.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.